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FTSE 250 movers: TI Fluid, Kainos under the cosh

By Michele Maatouk

Date: Friday 16 Apr 2021

FTSE 250 movers: TI Fluid, Kainos under the cosh

(Sharecast News) - London's FTSE 250 was up 0.2% at 22,513.57 in afternoon trade on Friday.
TI Fluid Systems slid after its largest shareholder, Bain Capital, and outgoing chief executive Bill Kozyra placed 52.4m shares in the company in an accelerated bookbuild to institutional investors. The shares were placed at 280p each, versus Thursday's closing price of 308p. Bain placed 52m, while Kozyra placed the rest.

Kainos was also weaker even as the IT provider said results for the year to the end of March 2021 are set to be at the upper end of consensus after the momentum outlined in its trading update in January was maintained.

Shore Capital said: "In the absence of a further upgrade today, and after the strong run up the shares had of late, there may be a 'pause for breath' moment at this juncture with the potential for some downside pressure (better to travel than to arrive?)."

Building materials distributor Grafton lost ground after saying it could sell some or all of its traditional merchanting businesses in the UK.

The company has hired Rothschild & Co to review undertake a review of the business and this "may or may not result in the sale of some or all of these businesses", it said.

FTSE 250 - Risers

Syncona Limited NPV (SYNC) 242.50p 4.08%
Petropavlovsk (POG) 26.08p 3.99%
Just Group (JUST) 108.00p 2.86%
Caledonia Investments (CLDN) 2,985.00p 2.75%
Dr. Martens (DOCS) 496.20p 2.61%
Redde Northgate (REDD) 353.00p 2.32%
Genuit Group (GEN) 581.00p 1.93%
Virgin Money UK (VMUK) 193.65p 1.76%
Aston Martin Lagonda Global Holdings (AML) 2,035.00p 1.75%
Elementis (ELM) 135.20p 1.73%

FTSE 250 - Fallers

TI Fluid Systems (TIFS) 293.50p -4.71%
Kainos Group (KNOS) 1,625.00p -4.24%
Clarkson (CKN) 2,800.00p -3.45%
National Express Group (NEX) 314.00p -3.33%
AO World (AO.) 314.60p -2.78%
C&C Group (CDI) (CCR) 281.80p -2.76%
Trainline (TRN) 477.00p -2.61%
Future (FUTR) 2,288.00p -2.56%
Tullow Oil (TLW) 48.06p -2.06%
Grafton Group Ut (CDI) (GFTU) 1,079.00p -1.91%

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